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Waddell & Reed stung by two post-earnings downgrades

Feb. 04, 2015 9:41 AM ETWaddell & Reed Financial, Inc. (WDR) StockWDRBy: Stephen Alpher, SA News Editor
  • Waddell & Reed's (WDR -2.5%) tough run continues as the stock couldn't take advantage of a sizable earnings beat yesterday, and today Sterne Agee throws in the towel, downgrading to Neutral from Buy. Citigroup joins in, cutting to Sell from Neutral.
  • "The January numbers reflect still an outflow situation across the three distribution channels," said Chief Marketing Officer Thomas Butch on the earnings call yesterday (transcript).
  • Previously: Waddell & Reed Financial beats by $0.08, beats on revenue (Feb. 3)

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